{"id":46921,"date":"2022-08-08T09:00:19","date_gmt":"2022-08-08T08:00:19","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=46921"},"modified":"2022-08-05T17:45:43","modified_gmt":"2022-08-05T16:45:43","slug":"chinese-companies-seek-global-carbon-market-for-green-hydrogen","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2022\/08\/08\/chinese-companies-seek-global-carbon-market-for-green-hydrogen\/","title":{"rendered":"Chinese companies seek global carbon market for green hydrogen"},"content":{"rendered":"

Three Chinese organisations are leading the charge to create an international carbon market for green hydrogen.<\/strong><\/p>\n

They have proposed a methodology<\/a>, pending approval from the UN\u2019s Clean Development Mechanism (CDM), for calculating emission reductions from green hydrogen projects to sell as carbon credits. <\/span>The buyers of those reductions – mainly countries and companies – could use them towards their net zero goals.<\/span><\/p>\n

The first project in line for this new market is a hydrogen production station (called Guohua Hebei Chicheng wind hydrogen project) in the city of Zhangjiakou, in northwest China.<\/p>\n

The project was one of the stations that provided fuel for more than 1,200 hydrogen powered vehicles<\/a> during the Beijing 2022 Winter Olympics. The city of Zhangjiakou, in particular, has become a hub for hydrogen infrastructure, among them is a 20MW plant operated by Shell<\/a>.<\/p>\n

Submitted in May 2022, the proposed methodology comes two months after China <\/span>unveiled<\/span><\/a> its first long term green hydrogen plan, which seeks to ramp up production to 100,000-200,000 tonnes a year by 2025.<\/span><\/p>\n

The CDM is the world’s largest carbon offsetting programme, set up under the Kyoto Protocol. If approved, the methodology would also be included in the new Paris Agreement carbon market mechanism, up for review by the programme’s supervisory body, said UN Climate Change.<\/p>\n

\n